Caesars fighting Bally's, Mohegan for Ontario casino license
Caesars Entertainment Inc. (Nasdaq: CZR) has operated its namesake casino in Windsor, Ontario since it opened three decades ago. However, this is the first time the company has fought for these rights.
The Ontario Lottery and Gaming Corp., the regulator that officially owns Caesars Windsor, is reportedly considering giving the existing operator as well as Bally's (NASDAQ: BALY ) and Casino subsidiary Mohegan Gaming & Entertainment bid to operate the venue. The Mohegan Tribe of Connecticut.
A proposal from the trio to operate the Windsor casino is under consideration by the Ontario Lottery and Gaming Corp., sources familiar with the matter told The Globe and Mail. Regulators and bookmaker officials did not respond to the newspaper's requests for comment.
The Ontario Lottery and Gaming Corporation could decide on the Windsor casino operator in the third or fourth quarter. If Caesars is replaced, a new operator would take over the venue in 2025.
Potential Losses at Caesars Hotels in Ontario
When Eldorado Resorts announced plans to acquire the old Caesars in 2019, CEO Tom Reeg, now at the helm of Caesars, said he had no plans for the combined company For a company, the international opportunity must be "phenomenal" to consider expansion outside the United States.
Since then, Harrah’s operators have stopped plans that would not impact the domestic market. However, Caesars Windsor is another option. It's close to the United States and is an important part of Caesars' highly profitable casino division. This division operates gaming venues for other owners, including the Ontario Lottery Corporation, gaming companies and gaming companies. and Native American tribes.
Additionally, Caesars Windsor is the operator's best alternative to the operator's Detroit commercial casino, as the company currently has no land-based casinos in Michigan.
Should the Ontario Lottery and Gaming Corporation? If a decision is made to change course, it could be a loss for Windsor and the entire province. While Bally's and Mohegan have extensive stores across the U.S., Mohegan's brand recognition extends even beyond Caesars. This factor is widely seen as crucial to revitalizing Windsor and attracting more visitors to the city.
However, there are some interesting factors to consider. Ontario regulators were criticized in 2018 for awarding Mohegan two licenses for casinos near Niagara Falls, even as Caesars pledged more money to expand the sites.
Why Caesar should have inside information
If Ontario regulators abandon Caesars, the new operator will spend nearly $60 million renaming the Windsor casino. Both Bally’s and Mohegan are affordable. But there's no guarantee those operators will have the same success as Caesars.
Regulators need to consider this because the City of Windsor relies on casinos for 2.5% of its annual budget, The Globe and Mail reports.
Against this backdrop, Caesars' loyalty program - the largest in the industry - and the operator's expertise in iGaming and sports betting are seen as advantages in the Windsor Casino competition. The current controversy suggests Caesars remains the frontrunner for the Windsor license.
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Source: www.casino.org
